Report : North America Automotive Hydraulic Cylinders Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Single Acting Cylinders and Double Acting Cylinders), Truck Type (Car Carriers, Garbage Compactors, Hook Loader, Tipping Vehicles, Drop Deck Trailer, and Modular Trailer), and Mounting Type (Rod End and Cap End)
At 5.5% CAGR, the North America Automotive Hydraulic Cylinders Market is speculated to be worth US$ 324.11 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America automotive hydraulic cylinders market was valued at US$ 235.47 million in 2022 and is expected to reach US$ 324.11 million by 2028, registering a CAGR of 5.5% from 2022 to 2028. Increasing demand for construction equipment and vehicles and growing use of hydraulic cylinders in waste management vehicles are the critical factors attributed to the North America automotive hydraulic cylinders market expansion.
A surge in urbanization, and residential and commercial infrastructure construction activities is a major force driving the growth of this industry. The rapid expansion of metropolitan cities propels the demand for commercial construction projects. Many new infrastructure development plans and projects are in the pipeline in various countries. These projects were planned for infrastructure development, environmental protection, and new energy generation and distribution facilities. Hydraulic cylinders are used in various construction vehicles to offer resistance against corrosion, abrasion, extreme temperature conditions, and weather changes. With the ability to withstand these conditions, these vehicles can be used continuously for extended periods. The rise in construction activities in various countries reflects increased demand for hydraulic equipment. Various earth-moving equipment such as excavators, loaders, bulldozers, and cranes are commonly used at construction sites of roads, railways, housing, infrastructure, and airport projects, among others. Thus, the adoption of heavy construction vehicles equipped with hydraulic cylinders is increasing with the continued proliferation of the construction industry, which, in turn, drives the automotive hydraulic cylinder market growth. This is expected to drive the market during the forecast period.
On the contrary, suboptimal performance and cost concerns regarding oil leakage hurdles the growth of North America automotive hydraulic cylinders market.
Based on type, the North America automotive hydraulic cylinders market is bifurcated into single acting cylinders and double acting cylinders. The single acting cylinders segment held 62.2% market share in 2022, amassing US$ 146.38 million. It is projected to garner US$ 186.77 million by 2028 to expand at 4.1% CAGR during 2022–2028.
Based on truck type, the North America automotive hydraulic cylinders market is categorized into car carriers, garbage compactors, hook loader, tipping vehicles, drop deck trailer, and modular trailer. The tipping vehicles segment held 37.3% market share in 2022, amassing US$ 87.88 million. It is projected to garner US$ 123.08 million by 2028 to expand at 5.8% CAGR during 2022–2028.
Based on mounting type, the North America automotive hydraulic cylinders market is bifurcated into rod end and cap end. The cap end segment held 73.6% market share in 2022, amassing US$ 173.28 million. It is projected to garner US$ 231.70 million by 2028 to expand at 5.0% CAGR during 2022–2028.
Based on country, the North America automotive hydraulic cylinders market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 74.4% market share in 2022. It was assessed at US$ 175.10 million in 2022 and is likely to hit US$ 247.99 million by 2028, exhibiting a CAGR of 6.0% during the forecast period.
Key players dominating the North America automotive hydraulic cylinders market are Wastebuilt Environmental Solutions LLC; Wipro Enterprises Ltd; Montanhydraulik GmbH; Muncie Power Products Inc.; Binotto SRL; and Hyva Holding BV, among others.
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